Just today, July 16, 2024, the Hong Kong Financial Secretary recently pointed out that the Hong Kong Special Administrative Region Government needs to establish a regulatory system for issuers of fiat stablecoins, which will adopt a risk-based and pragmatic approach.
JinseFinanceThe use of digital RMB will provide Hong Kong and Mainland residents with an additional safe, convenient and new cross-border payment option.
JinseFinanceOn April 16, 2024, the Hong Kong Monetary Authority (HKMA) issued guidelines on distributed ledger technology (DLT).
JinseFinanceOn February 20, the Hong Kong Monetary Authority issued two currently effective regulatory guidance notices on digital assets and tokenized products, titled "Provision of Digital Asset Custody Services" and "Sales and Distribution of Tokenized Products Circular".
JinseFinanceSpot Bitcoin ETF was officially launched in the United States recently, attracting great attention from the market. The Monetary Authority of Singapore does not allow such financial products to be listed in Singapore and for retail investors because cryptocurrencies such as Bitcoin are not listed as eligible assets for ETFs.
JinseFinanceMAS provided the exchange with initial in-principal approval in October 2023, and Upbit has been actively engaged in Singapore since 2018.
AlexPrior to this consultation, the HKMA had issued a Discussion Paper on Crypto-assets and Stablecoins in January 2022, inviting feedback from various stakeholders.
DavinThe Monetary Authority of Singapore (MAS) advances digital money plans, emphasizing regulated stablecoins, tokenized deposits, and potentially private-controlled ledgers. Involvement of Paxos and StraitsX is notable.
Xu LinA joint working group led by the CBUAE and HKMA, with support from the relevant stakeholders of the two jurisdictions’ banking sectors, will be formed to take forward the agreed initiatives.
Others
Coinlive